Abu Dhabi Project Expected to Splurge USD100 Billion by 2020

Driving its goal on Vision 2030, Abu Dhabi is set to splurge an estimated budget of USD100 billion of the next seven tears as the government slopes up efforts to maintain the economic gains built over the previous years. After Dubai won the bid to host the Expo 2020, United Arab Emirates observed the largest rise projects activity in the Gulf Cooperation Council this 2013. Presently, the construction plan of UAE will stay largely active at $30 billion worth of projects to be awarded in 2020, chased after the oil and gas sector with a project pipeline valued at $25 billion. As observed, the progress of the construction sector was comparable to a roller coaster ride as when the revival period came, new schemes and projects soars which reflects 30% growth to the pre sent status of $3.19 trillion. One of the reasons seen was the capital city’s large contribution on mass investments. Owing to the government’s continued push to boost the economy led by waves of new infrastructure investment, an international organization for monetary issues has forecasted bread Gross Domestic Product Growth (GDP) growth for the UAE of 3.6 percent up from 3.1 percent last year. Meanwhile, the industrial as well as power and water sectors will likewise be busy with the contracts valued at $6 billion and $5billion to be awarded during the same period. Knowledge-intensive sectors like aviation, healthcare, petrochemicals and renewable energy is projected to perform strategic developments that will magnetize local and global investors.